News
Gold Futures Technical Analysis: The bulls push past the value area
Published: Thursday, 15 April 2021 20:00 | 
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| (Kitco News) - Gold is still technically in a sideways move but there has been a bullish bounce off the mean value area. The area is represented by the blue shaded area below the current price and is the place on the chart where most contracts have been exchanged.
The Commerzbank and Credit Suisse technical teams have a slightly opposing view on the next move in gold.
Published: Thursday, 15 April 2021 20:00 | |
| (Kitco News) - Kicking off with Credit Suisse, they believe that the yellow metal has seen a cap at the $1755/65 level to maintain its immediate downside bias.
Gold ETF's post some outflows but there is a key technical support close by
Published: Thursday, 15 April 2021 20:00 | |
| (Kitco News) - Gold ETF's are showing some more outflows this week. Gold Shares (GLD:NYSE) saw an approximate $288.6 million dollar outflow that's a 0.5% decrease week over week (from 359,600,000 to 357,800,000).
So far so good with PMI's in Europe/Asia over to the U.S.
Published: Thursday, 15 April 2021 20:00 | |
| (Kitco News) - So far so good on the manufacturing purchasing managers index (PMI) results across the world. Overnight the main one to look out for came from China. The economic powerhouse posted a Caixin reading of 50.6 for the month of March marginally missing the 51.3 expected.
Gold has posted some more gains leading into the EU open
Published: Thursday, 15 April 2021 20:00 | |
| (Kitco News) - Gold (0.55%) has continued to show some strength after bouncing off the previous wave low at $1676.91/oz. Silver has not traded so well overnight and is down around -0.48% trading at $24.27/oz.